Prevas AB

Hello and welcome to today's webcast with Prevas. With us presenting today, we have the CEO Magnus Vilén and CFO Helena Byrström. If you're calling in and would like to ask a question, please press star 9 to raise your hand and star 6 to unmute yourself when you get the word. You can also submit your questions using the form to the right. And with that said, please go ahead with your presentation.

Thank you very much and welcome all to this presentation of the Q4 results for Prevas. This meeting today will follow this agenda. We will start with a short introduction. We will review Preva's financial performance. We will have a market update and finalize this meeting with a Q&A session. Okay, looking into Q4 of 2025, how did Prevas perform? We actually made a quite stable revenue performance. We had a negative organic growth of minus 1.7% and we had a positive growth due to acquisitions of 1.8%. So the net sales were slightly above last year for the quarter. Looking into the profits, we can see that Prevas has increased the profit from 32.6% last year up to 35.1 million SEK in 2025. This equals to an EBITDA margin of 8.1% compared to last year of 7.5%. And what is the underlying reasons for this improvement? One big part is that we for the fifth consecutive quarter improved the EBITDA in Finland from last year 0.1 million SEK up to 3.3 million SEK in 2025. This is one part of the reason for the improvement but also of course it's a result of all the actions that we take in Prevas in order to increase the efficiency. We have made numerous actions in 2025. What we also see in Q4 is that the operating cash flow continues to be strong in Prevas. We deliver a cash flow of 40.6 million SEK, which if you compare it to the EBITDA of 35.1 million SEK, really shows that we have the ability to create a strong cash flow in Prevas. The board is proposing a dividend of 4.0 SEK for 2025. This equals to 73% of the profit of the tax for 2025, which actually is higher than our financial target of 40 to 60% over time. So all in all, I believe that we are doing Q4 taking a good step forward in the progress of Trevas. And then if we look into the year 2025, we can see that Prevas has performed a revenue of 1.6 billion SEK. That equals a growth for the year of 2.5% and the EBITDA of 7.5%. We also see that we continue to have a strong cash flow, so the operative cash flow for the year has also increased up to almost 144 million SEK. In my book, this year shows that Prevas has the ability to navigate in a more difficult market. During this year, we have seen quite tough market conditions and We have really taken a lot of action in order to mitigate and to adapt Prevas and find new opportunities to also to meet when we see reduced demand. So all in all for the year, 2.5% growth and 7.5% of EBITDA. If we zoom out a little bit, we can see on the sales sides that Prevaz is continuing to grow, even though at a slow rate in 2005 due to the conditions that we have been in. But if we zoom out a little bit more, in five years, Prevaz has more than doubled the net sales from 772 million SEK in 2020 up to 1,627,000,000 in 2025. It's more than doubled the size of Prevaz in five years. And of course, our strategy moving forward is to continue to deliver profitable growth. Looking into the EBITDA and EBITDA margins, you can see that on the other side of this slide, we can see that during H2, Q3 and Q4, we have a positive trend. We are actually higher than last year, Q3 and Q4, which of course is very positive. Looking into H2 as a total, we have grown the EBITDA with 10.2% compared to last year. So all in all, I believe we are moving in the right way with Prevas. And with this, I would like you, Helena, to talk a little bit more in detail related to the cash flow and our financial position in Pielas.

Thank you, Magnus. Cash flow from operating activities increased by 7 million SEK to 144 million SEK for the full year. Cash flow from operating activities in Q4 amounts to 41 million SEK. The differences in investment activities and financing activities compared with previous year are mainly explained by the acquisition in Finland in 2024. Cash flow for that period increased both in Q4 and for the full year versus 2024. The overdraft facility of 100 million SEK remained fully unused. Cash at the end of the quarter amounted to 21 million SEK compared to 44 million SEK last year. We do have a strong balance sheet and a solid financial position that will support our continued growth journey. And with that, I hand it over to you again, Magnus.